{"id":7089,"date":"2012-01-16T20:48:17","date_gmt":"2012-01-16T18:48:17","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africas-rand-recovers-from-rating-hit\/"},"modified":"2012-01-16T20:48:17","modified_gmt":"2012-01-16T18:48:17","slug":"s-africas-rand-recovers-from-rating-hit","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-recovers-from-rating-hit\/","title":{"rendered":"S.Africa&#8217;s rand recovers from rating hit"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Exporter interest supports rand<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds follow rand, decent auction seen on Tuesday<\/p>\n<p><span><\/span><\/p>\n<p>* CPI, MPC to give direction later this week<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Jan 16 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nfirmed against the dollar on Monday as exporters took the chance<br \/>\nto sell dollars after a sharp fall for the local currency in the<br \/>\nprevious session due to ratings agency Fitch&#8217;s downgrade of its<br \/>\noutlook for the country.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was trading at 8.0880 against the dollar<br \/>\nat 1515 GMT, 0.46 percent firmer than Friday&#8217;s New York close of<br \/>\n8.1250. It hit a one-week low of 8.2249 on Friday after Fitch&#8217;s<br \/>\nstatement.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Dollar\/rand has fallen through the first support level at<br \/>\n8.12 and 8.10, boosted by some export activity and as<br \/>\neuro\/dollar comes off intraday lows,&#8221; said Anisha Arora,<br \/>\nemerging market analyst at 4CAST.<\/p>\n<p><span><\/span><\/p>\n<p>The Fitch move, which came despite South Africa&#8217;s relatively<br \/>\nlow levels of national debt, was a surprise to many and some<br \/>\nanalysts said it was likely just about the generally nervous<br \/>\nglobal environment and should not be followed by an actual cut<br \/>\nin its credit rating.<\/p>\n<p><span><\/span><\/p>\n<p>Bidvest Bank chief trader Ion de Vleeschauwer cautioned<br \/>\nagainst turning bullish on the rand, however, and said Monday&#8217;s<br \/>\nmoves could be attributed to thin trading as U.S. markets were<br \/>\nclosed for a holiday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We must take these kind of moves with caution &#8230; There&#8217;s<br \/>\nstill a bit of fickleness in the market and we have those<br \/>\nratings downgrade in Europe hanging over our heads,&#8221; he said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Exporter interest supports rand * Bonds follow rand, decent auction seen on Tuesday * CPI, MPC to give direction later this week JOHANNESBURG, Jan 16 (Reuters) &#8211; South Africa&#8217;s rand firmed against the dollar on Monday as exporters took the chance to sell dollars after a sharp fall for the local currency in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7089","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7089"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7089\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}